Business events represent one of the highest yielding sectors in Malaysia’s visitor economy. The recent 16th Asia Pacific Life Insurance Congress (APLIC) 2017 by the National Association of Life Insurance and Family Takaful Advisors (NAMLIFA) that was held here on 17 May to 19 May 2017 to honour the industry’s best insurance professionals and financial advisors is a testament to Malaysia’s burgeoning significance in the business events sector specifically among the insurance and financial services industry.
Malaysia played host to the 16th APLIC 2017 conference for the third time and this year’s visit saw 5,000 delegates from 13 countries that helped to generate an estimated economic impact of RM62.5 million, according to Malaysia Convention & Exhibition Bureau (MyCEB), an agency under the Ministry of Tourism and Culture Malaysia.
In the past, MyCEB successfully supported the hosting of the International Dragon Award (IDA) 2013 and the Million Dollar Round Table (MDRT) Experience 2014 here in Malaysia which saw a combined turnout of over 10,000 industry professionals from several countries and generated a combined of RM105.8 million in estimated economic impact to the country. Malaysia being chosen to host major international insurance and financial services conferences is a resounding indication of the country’s competency and capabilities.
Speaking to delegates attending the APLIC event, Datuk Zulkefli Hj. Sharif, Chief Executive Officer of MyCEB, said that the initiative in bringing the 16th APLIC 2017 international brand event to Malaysia is in line with the government’s aspiration under the National Key Economic Areas (NKEA) to position Malaysia as a preferred Business Events (BE) and a choice destination in the region to complement the target of achieving 36 million tourist arrivals and RM168 billion in revenue by 2020.
“MyCEB continues to build on Malaysia’s prominence as one of the region’s leading business destinations. In 2016, through MyCEB’s efforts in partnership with industry associations, a total of 153 business events were secured, attracting 111,298 international delegates who created an estimated RM1.03 billion in economic impact, benefiting local businesses and hoteliers,” Datuk Zulkefli added.
Each industry event was set to be a one-stop event for practitioners to come together to seek information and promote professional fraternity among life insurance professionals in the Asia Pacific region. Most importantly, delegates are presented with an opportunity to network with other top financial services professionals from around the world and the recent 16th APLIC 2017 event saw at least 60% of foreign participation.
“The 16th APLIC 2017 event promoted Malaysia significantly and it is a turning point to see the event supported and marketed by MyCEB as well as the government. It has always been part of our growth strategy to give the best experiences to delegates and to encourage them to absorb as much information and experience the best the country had to offer in the insurance and financial services space. Service and quality is of utmost importance to us and we are the ideal place for the world to meet and talk business,” said Tan Kean Seng, Organising Chairman of 16th APLIC 2017.
The proximity of the insurance professionals, financial advisors and the long tradition of joint work between the organising chairman of APLIC, NAMLIFA and the Asia Pacific Financial Services Association (APFinSA) makes Malaysia an excellent venue for exchanging ideas and information on topics that range beyond the day-to-day work.
“In line with the current development and technology, we can only share through education, where we are able to change the mindset, new thoughts, new business models that we have to adapt and also to adopt. I think for NAMLIFA or the Insurance Industry as a whole, we are extremely excited and happy with MyCEB coming to assist us in organising this highly successful event,” said James Bong, President of NAMLIFA.
“The diversity of Malaysia combined with all the different cultures here are truly unique and you can see that in the people and the food. There’s great diversity in the architecture from the old to the new, side by side. The 16th APLIC 2017 conference should benefit the delegates since the conference is in one convenient location. It creates immense talkability about how good Malaysia is and this is a result of the thousands of members who have nothing but good things to talk about their experience and the country,” said Rod Severn, Chief Executive Officer for Professional Advisers Association, New Zealand.
“I have been to several international conferences but I must give the thumbs up to the APLIC Conference and the host country, Malaysia. I have been impressed with the excellent infrastructure, facilities and hospitality of the people. Malaysia is so wonderful. The maintenance of the city is so good that even though the city traffic is heavy, people are driving their vehicles in a good manner. I love Malaysia,” said Venkat Subramaniam, a delegate from India.
Source: Media Release